Palmer Knight Co Has $8.53 Million Stake in The Travelers Companies, Inc. (NYSE:TRV)

Palmer Knight Co lowered its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 36,451 shares of the insurance provider’s stock after selling 316 shares during the quarter. Travelers Companies accounts for 3.8% of Palmer Knight Co’s holdings, making the stock its 9th biggest holding. Palmer Knight Co’s holdings in Travelers Companies were worth $8,534,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Y.D. More Investments Ltd bought a new stake in Travelers Companies in the second quarter worth about $25,000. Pathway Financial Advisers LLC bought a new stake in shares of Travelers Companies during the 1st quarter worth approximately $35,000. Beacon Capital Management LLC boosted its holdings in Travelers Companies by 74.2% during the 1st quarter. Beacon Capital Management LLC now owns 155 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 66 shares during the period. Wolff Wiese Magana LLC grew its position in Travelers Companies by 39.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 160 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 45 shares during the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in Travelers Companies in the third quarter worth $50,000. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Andy F. Bessette sold 4,520 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $253.46, for a total value of $1,145,639.20. Following the transaction, the executive vice president now directly owns 16,976 shares of the company’s stock, valued at $4,302,736.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Andy F. Bessette sold 4,520 shares of Travelers Companies stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $253.46, for a total transaction of $1,145,639.20. Following the completion of the sale, the executive vice president now owns 16,976 shares of the company’s stock, valued at $4,302,736.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman William H. Heyman sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $260.55, for a total transaction of $781,650.00. Following the completion of the transaction, the insider now owns 250,384 shares in the company, valued at approximately $65,237,551.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,999 shares of company stock valued at $16,580,166. Insiders own 1.33% of the company’s stock.

Travelers Companies Stock Down 0.7 %

Shares of TRV stock opened at $252.28 on Friday. The stock’s fifty day moving average price is $240.61 and its 200 day moving average price is $222.27. The Travelers Companies, Inc. has a 1-year low of $167.08 and a 1-year high of $269.55. The company has a market cap of $57.27 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 1.22 and a beta of 0.62. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.34 and a quick ratio of 0.34.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Thursday, October 17th. The insurance provider reported $5.24 earnings per share for the quarter, topping analysts’ consensus estimates of $3.79 by $1.45. The business had revenue of $11.90 billion for the quarter, compared to analyst estimates of $11.46 billion. Travelers Companies had a return on equity of 17.69% and a net margin of 10.02%. The company’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.95 earnings per share. On average, research analysts expect that The Travelers Companies, Inc. will post 18.53 earnings per share for the current fiscal year.

Travelers Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be paid a dividend of $1.05 per share. The ex-dividend date is Tuesday, December 10th. This represents a $4.20 dividend on an annualized basis and a yield of 1.66%. Travelers Companies’s payout ratio is 21.54%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TRV. Morgan Stanley cut their price target on shares of Travelers Companies from $220.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, July 19th. Piper Sandler dropped their target price on shares of Travelers Companies from $213.00 to $207.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. UBS Group lifted their price target on shares of Travelers Companies from $244.00 to $270.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Roth Mkm increased their price objective on Travelers Companies from $240.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Travelers Companies from $221.00 to $234.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $247.90.

About Travelers Companies

The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.